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Hello from Kansas but moving to Miami!!
Old 07-09-2012, 07:25 AM   #1
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Hello from Kansas but moving to Miami!!

So glad to have found you all and this website. We (husband and me) are 53 and 59 respectively. Hubby is retired but I am still working. My new company is transferring us to Miami, FL. We need to be down there in a couple of weeks. I am looking to rent initially and then if we like it, we may buy a home. The company I work for is providing temporary living expense .. About $20,000 net in a lump sum. They expect us to permenantly relo by February 2013. How can I best take advantage of this situation? Buy quickly or rent long term? Keep our KS house or sell? I have a house to sell in KS that will not be easy to move, but the company will pay all fees and commissions. we like Kansas but don't think that we want to retire here. I don't know much about Miami.
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Old 07-09-2012, 07:41 AM   #2
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Hi curiosity, welcome to the forum. Moving from Kansas to Miami? That's going to be fun. Probably safe to say you have some culture shock ahead.

Folks here can give you lots of advice on what to do with your Kansas house. As for Miami, you definitely want to rent. South Florida is an area you want have to know before buying. There are some very nice areas and lots that aren't. A couple of years rent will not make a big financial difference over time, but choosing a nice location will. No rush - the real estate market there isn't going anywhere soon.
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Old 07-09-2012, 10:46 PM   #3
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Quote:
Originally Posted by Curiosity View Post
So glad to have found you all and this website. We (husband and me) are 53 and 59 respectively. Hubby is retired but I am still working. My new company is transferring us to Miami, FL. We need to be down there in a couple of weeks. I am looking to rent initially and then if we like it, we may buy a home. The company I work for is providing temporary living expense .. About $20,000 net in a lump sum. They expect us to permenantly relo by February 2013. How can I best take advantage of this situation? Buy quickly or rent long term? Keep our KS house or sell? I have a house to sell in KS that will not be easy to move, but the company will pay all fees and commissions. we like Kansas but don't think that we want to retire here. I don't know much about Miami.
Once you spend a few days getting acclimated to Miami, and if you think you might have an interest in retiring there, send the DH out and about during the day to scope out different areas...as well as the 2 of you going out and about during the evening. When retired, you'll have free time both day and night, so you want to see what different areas would be like at both times.

But even while you're doing this, start thinking about what kinds of things you'd like to do during retirement in your city and within a day's drive of your city.....then start doing some searching and research on possible places that offer you what you're looking for. (hint: there are tons of cities that match a variety of ideals, so don't think that there'll be just 1 or 2 cities matching what you're looking for).

Since you seem to not really have much idea of where you might retire to, strictly from an odds perspective, you probably won't be in Miami (just because there are tons of cities to live in, and you apparently haven't really whittled the list down too much). Given that, you'll probably want to rent while in Miami in a modest apartment, rather than deal with the huge expenses of purchasing a short-term house (selling w/ realtor's commissions, mortgage financing, real estate taxes, expensive hurricane insurance, etc.)
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Old 07-10-2012, 02:45 AM   #4
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Welcome, curiosity.
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Thanks!
Old 07-10-2012, 06:50 AM   #5
Confused about dryer sheets
 
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Thanks!

So thanks for the insight... And I agree Miami is probably not a destination for retirement. We think it might be fun for a while as we cam be in Key Wst in hours or take a cruise with little planning. Hopefully husband will learn some good Cuban recipes! We will take the trips around the city to get to know the areas...and the idea of going in daytime and evening is a great idea. One last newbie question.. What does FIRE stand for...Financially Independant Retire Early? Is that it?

Regards,
Curious One
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Old 07-10-2012, 08:47 AM   #6
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